At the International Traders Expo in New York today, Charles Schwab announced several enhancements designed to improve the overall trading experience for its most active traders.
These include multiple upgrades to Schwab's suite of web-based and software trading platforms and a personalized welcome service to help new clients get quickly oriented to Schwab's active trading services.
"We understand that today's active traders have increasingly sophisticated needs," said Richard Levine, Schwab Active Trader Vice President. "Our latest improvements raise the bar on what traders should expect from their broker. Technology upgrades to our platforms plus ongoing support in everything from trading strategies to proactive risk management demonstrate that Schwab is more than just a place to trade. Our commitment to personalized service differentiates Schwab from other brokers and demonstrates a level of service that not only satisfies ― but delights ― our clients," added Levine.
Schwab has made several additions and significant technology upgrades to its suite of web-based and software trading platforms, including its premier offering, StreetSmart Pro:
- Bracket orders for both equity and option trades to automate risk management and profit target strategies
Traders can set predefined profit and loss targets when submitting either a stock or option order to cut losses and help lock in profits. This technology allows traders to automatically manage risk and implement trading strategies even if they are not logged into the system.
- Several new options tools including trailing stop orders, upfront gain/loss calculations, and put/call ratios
Multiple tools to improve the options trading experience include trailing stops for single leg options to help protect against losses and put/call ratios for individual stocks and indices based on open interest or volume. A new countdown feature helps traders identify days left to expiration and is easily accessible on order entry screens. A new max gain/loss/breakeven calculator has also been added.
- The addition of Schwab Equity Ratings to the StreetSmart Pro platform to provide easy access to industry-leading stock ratings and data to screen and help identify trading opportunities
For the first time, Schwab Equity Ratings have been incorporated directly into the StreetSmart Pro platform for easy access within the trading window. Schwab Equity Ratings offer a disciplined and objective evaluation of approximately 3,000 U.S. equities, presented as easy to use "A" through "F" ratings on the performance outlook over the next 12 months. The ratings have been incorporated into watch lists, screening tools, and positions display.
- Improved real-time stock monitoring tools
Additional enhancements include a new Dynamic Ticker that shows market momentum on stocks based on the activities of every market maker, ECN, or exchange with Level II quotes. And new Tick Chart functionality helps identify trades and short term activity in real-time. As a result, traders can monitor streaming stock movements while managing up to 20 chart windows with up to 20 tabs each and six watch lists with up to 20 tabs each.
Beyond the platform improvements, Schwab is offering a new Client Concierge program to help traders who are new to Schwab get up and running quickly. The Client Concierge provides personalized, one-on-one consultations on Schwab's active trading services and tools, educational resources, and research to help familiarize new clients with all the features and functionality of Schwab's active trading experience.